"Have any of you met Paul Ryan? We should get him to come to the
university. I’m telling you this guy is amazing, uh. I always thought
that I was OK with arithmetic, but this guy can run circles around me.
And, he is honest. He is straightforward. He is sincere.
And, the budget that he came forward with is just like Paul Ryan. It
is a sensible, straightforward, serious budget and it cut the budget
deficit by $4 trillion…just like we did.
The President came out with his own plan and the President came out, as you will remember,
with a budget and I don’t think anyone took that budget very seriously. Um, the Senate voted against it 97 to nothing. He, therefore, after a lot of pressure from folks like me, he came out with a new budget framework and, in the new budget framework, he cut the budget deficit by $4 trillion over 12 years. And, to be candid, this $4 trillion cut was very heavily back-end loaded. So, if you looked at it on a 10 year basis and compared apples-to-apples, it was about a $2.5 trillion cut.”
with a budget and I don’t think anyone took that budget very seriously. Um, the Senate voted against it 97 to nothing. He, therefore, after a lot of pressure from folks like me, he came out with a new budget framework and, in the new budget framework, he cut the budget deficit by $4 trillion over 12 years. And, to be candid, this $4 trillion cut was very heavily back-end loaded. So, if you looked at it on a 10 year basis and compared apples-to-apples, it was about a $2.5 trillion cut.”
- Erskine Bowles, Democratic Chairperson of
Obama’s National Commission on Fiscal Responsibility and Reform,White
House Chief of Staff, Clinton’s Administrator of the Small Business
Administration, President of the University of North Carolina,
life-long Democrat, University of North Carolina, 8 September 2011
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